Technical Analysis Daily: USD/JPY

USD/JPY 103.40

USD/JPY Open 105.27 High 105.30 Low 100.27 Close 101.11

The US Dollar continued descending significantly yesterday against the Japanese Yen from Monday's top 105.30 to the bottom 100.27, which are the first resistance and support levels respectively for the currency couple today. The Yen remains as the strongest major currency on the market, and if the negative trend of the currency couple continues, as we expect for the moment, next support further down is expected at 99.50, followed by 98.65. In upward direction next resistance further up is expected at 106.00, the break of which would open potential rise towards 106.85.

Technical resistance levels: 105.30 106.00 106.85
Technical support levels: 100.25 99.50 98.65

Trading range: 102.25 - 101.65

Trend: Downward

Sell at 102.15 SL 102.45 TP 101.75

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